Hydrogen Utopia hails UK licence for sustainable aviation fuel
Hydrogen Utopia International PLC on Monday said it obtained a licence which strengthens its partnership with InEnTec Inc.
The London-based company, which transforms non-recyclable waste plastic into hydrogen, clean fuels and advanced materials, said it secured a licence from InEnTec to deploy its proven plasma-enhanced melter gasification technology for sustainable aviation fuel production across the UK.
The licence agreement, with a total consideration of USD500,000, grants Hydrogen Utopia the right to build, operate, and scale PEM Melter systems throughout the UK, among other things.
Of the total sum, USD250,000 has been paid, and the remaining USD250,000 is payable by promissory note.
Hydrogen Utopia said the licence agreement is secured as the UK government increases support for domestic low-carbon fuel production.
Hydrogen Utopia Chief Executive Officer Aleksandra Binkowska said: "We are delighted to strengthen our partnership with Inentec, which operates the only commercially proven technology in its class. This positions us well for expansion into the UK, where the government is actively supporting the sustainable aviation fuel market. We expect to now accelerate our UK operation as we engage with feedstock suppliers, off take agreements and finalise discussions on location for the SAF facility."
Hydrogen Utopia shares rose 5.9% to 2.17 pence each on Monday afternoon in London.
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